Overview
- GI-TOC’s new report says Venezuela has become a regional destination for illegally mined Amazon gold over the past two years, reversing earlier routes out of the country.
- The study reports that some Guyana-origin gold is sold in Venezuela in exchange for USDT, based on interviews with two Georgetown traders and corroborating analyses of stablecoin use.
- Researchers estimate Venezuela’s gold sector generated just over $2.2 billion last year and describe a trade that links senior political figures, security forces and transnational criminal groups.
- Stablecoins offer fast, cross-border transfers that can bypass banking restrictions, while Tether says it cooperates with law enforcement and has helped freeze roughly $4.2–$4.3 billion tied to illicit activity.
- GI-TOC recommends adding explicit crypto provisions to the proposed U.S. Legal Gold and Mining Partnership Act, citing environmental harm and enforcement gaps in the current fight against illegal mining.